Case Study: First Continental Mortgage achieves $745,000 in annual verification savings with Truv

First Continental Mortgage cuts verification spend by $745,000 annually with Truv

First Continental Mortgage, Ltd., a builder-focused mortgage lender, faced excessive costs and operational inefficiencies from a fragmented vendor ecosystem for income and employment verifications. Their legacy system, costing $2 million annually, provided little support and led to duplicate orders across their 12 joint ventures. They partnered with Truv to implement its consumer-permissioned VOIE and VOA solutions for a more streamlined and cost-effective process.

By integrating Truv's all-in-one verification platform across their Encompass and nCino systems, First Continental Mortgage achieved an estimated $745,000 in annual savings. The solution also delivered an 8.21% uplift in income validation and a 4.54% uplift in employment validation for rep and warranty relief, while Truv's responsive support with 4-hour response times drastically improved processor efficiency.

First Continental Mortgage, Ltd